Gaining Perspective
392 episodes - English - Latest episode: 11 months ago - ★★★★ - 18 ratingsThis podcast is hosted by Advisor Perspectives, one of the leading publications for financial advisors. Our podcast series brings you short interviews with top thought leaders in financial advice, planning, investments and economics. Each episode focuses on a specific issue facing financial advisors. Listeners will learn the key trends affecting the way they and their competitors operate and the steps advisors can take grow their practices and deliver better service to their clients.
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Episodes
Art Collecting as a Pastime and an Investment
November 29, 2022 12:00 - 28 minutes - 51.7 MBArt collecting is a passion for many wealthy Americans. This was on display earlier this month, when the collection of Paul Allen, the late cofounder of Microsoft, was auctioned for $1.6 billion, setting a single-evening record. I doubt many of our listeners will have clients who amass a collection of that magnitude, but many will use their wealth to purchase art – either for esthetic reasons or in the hope that its value will appreciate. My guest today will discuss some of the principles an...
The 2023 Outlook for Emerging Markets
November 28, 2022 05:00 - 23 minutes - 43.1 MBEmerging markets have been rattled by inflation, weakness in China’s growth and the war between Russia and Ukraine. Wave after wave of bad news came in 2022; however, there are reasons for optimism as we approach 2023. Emerging markets are resilient and better positioned than developed markets to face the uncertain environment and lead the global recovery. - Additional Resources- Learn More: MEGMX Learn More: MEM Engines of EM Growth Take a Flight to Quality Join us for Exchange:...
How Vanguard’s Advisor's Alpha Helps Advisors and Their Clients
November 21, 2022 12:00 - 19 minutes - 35.9 MBOver more than two decades, Vanguard Advisor's Alpha® has shown how advisors can add value, or alpha, through relationship-based services such as financial planning, discipline, and guidance, rather than by trying to outperform the market. Vanguard’s Investment Advisory Research Center, led by Fran Kinniry, is charged with exploring how advisors provide value to investors. This year has served as a harsh reminder of why so many investors seek a trusted advisor to navigate their financial j...
Gifting Strategies for HNW and UHNW Client
November 18, 2022 12:00 - 17 minutes - 16 MBMy guest today will discuss how he works with UHNW/HNW individuals and families when it comes to charitable giving and meeting philanthropic needs. We will talk about the issues individuals should consider when making a gift of a business interest to a public charity. We will discuss the benefits for donors in making the decision to give a gift of a business interest to a public charity, the types of business interests that a donor may give to charity and the trends he’s seeing across his cl...
How whole life can be a life stage planning tool
November 10, 2022 12:00 - 11 minutes - 10.2 MBClients often assume that their need for life insurance ends when they stop working. In fact, whole life insurance can play an important role in your client’s retirement income strategy. For higher income earners, a whole life policy may also be an effective way to help protect income and accumulate additional funds for retirement. Here to discuss the role whole life insurance can play in your clients’ retirement strategies is Neil Drzewiecki. - Here is a link to the MassMutual web site....
Compelling Opportunities in the Muni Bond Market
November 02, 2022 11:00 - 15 minutes - 29.1 MBThe fixed income market is on the verge of having its worst year of performance in several decades, and for many of us, the worst of our careers – but there are still fixed income opportunities for investors to consider. In our discussion, we want to share with you insight on a segment of the fixed income market that we believe presents an opportunity for investors – municipal bonds. - Here is a link to the MFS site. Here are more links to find out about MFS and Fixed Income: Fall F...
Emerging Trends in the RIA Profession
November 01, 2022 11:00 - 33 minutes - 61.5 MBAmong financial advisors, 57% have reported spending a significant portion of their time discussing non-financial topics with clients. To retain clients, advisors need to provide a more connected and emotional financial experience to help clients achieve and sustain financial freedom. The role of an advisor is changing, and advisors should use technology for the more technical aspects of the job, to focus on the emotional, human-to-human connections. As advisors’ roles evolve, they face ongo...
Nebo - GMO’s New Asset Management Platform
October 28, 2022 11:00 - 39 minutes - 72.9 MBThe advisors who are listening to this podcast will start a financial-planning process with a risk assessment for a client. That exercise will evaluate how much volatility the client can tolerate. It will serve as input to constructing a portfolio that optimizes returns given a client’s risk tolerance. My guest today is here to explain why that is the wrong approach. The problem is not to minimize volatility, he says, but to figure out how money a client needs, when they need it, and to ...
How Blockchain-Enabled Products Will Transform Asset Management
October 26, 2022 11:00 - 26 minutes - 24.3 MBIn September, WisdomTree announced its first blockchain-enabled fund, The WisdomTree Short-Term Treasury Digital Fund (WTSY). The fund brings a mainstream, traditional asset, U.S. Treasury bonds, into the digital ecosystem to unlock use cases and distribution opportunities. Jarrett Lilien, president and COO of WisdomTree, is here to discuss the “why” behind this fund and what it means as traditional asset management moves to the blockchain. We will also discuss: The company's upcoming blo...
Value Investing in a Time of Fear and Uncertainty
October 21, 2022 11:00 - 24 minutes - 45.4 MBFear and uncertainty in financial markets driven by inflation-fighting central banks, slowing economic growth and geopolitical tensions has driven risk-off investor behavior. While this can be disorienting, the U.S. Value team at Artisan Partners, led by portfolio manager Daniel Kane, views the current market drawdown as a healthy readjustment to the cost of capital. This comes after years of central bank interventions that distorted asset prices and provided a tailwind for growth stocks. It...
The Case for Annuities in Today’s Market
October 14, 2022 11:00 - 18 minutes - 34.4 MBThere are continuing pressures on investment portfolios as advisors and their clients need to manage pressures they have not seen for 20 years: market volatility, inflation, rising interest rates and a potentially rising tax rate environment. Some of these pressures have not surfaced in 20 years. With fixed income not holding up as a low-risk part of the portfolio, right now is an opportune time to look at other strategies to protect client portfolios. - Here is a link to the Equitable ...
The Future for Alternative Investing
October 13, 2022 09:00 - 21 minutes - 39.2 MBCAIS is a truly open marketplace for alternative investments, where financial advisors and asset managers can engage and transact directly on a massive scale. Advisors do not have the same access to alternative investments as large institutions. Without that access, advisors have fewer tools to capitalize on opportunities or withstand market downturns. This unlevel playing field puts financial advisors at a meaningful disadvantage when building and protecting wealth. CAIS is aiming to change...
Technology Trends that are Reshaping the Advisor Profession
October 11, 2022 11:00 - 23 minutes - 42.7 MBThe right technology platform with the right integrations and support is critical to the success of an advisor's growth and client engagement. Each piece must be right, but it's the blending that drives the value. Understanding the advisor's needs and involving them in the decision process is vital to the success. This needs to be done at all levels of product development, from strategy and design, to testing, support and ongoing feedback. My guest today will explain how he has managed and n...
The Latest Developments in Direct Indexing
October 06, 2022 11:00 - 36 minutes - 66 MBDirect indexing is the most powerful trend sweeping through the advisory profession. When done right, it lets clients build low-cost, tax-efficient, and highly customized portfolios. Those portfolios can track a broad market index or implement a factor-based strategy. They can follow an ESG or sustainability mandate. Here to discuss the latest developments in the direct indexing world are two members of Envestnet’s management team. - Here is a link to the Direct Indexing Overview and a ...
Northern Trust Asset Management’s Capital Market Forecast
October 05, 2022 11:00 - 32 minutes - 59.1 MBEvery year, Northern Trust Asset Management issues a multi-asset class, five-year investment outlook known as its Capital Market Assumptions Report. Per the recently released 2023 edition, Northern Trust is expecting market returns to be slightly below long-term historical averages. While they believe lower stock valuations may provide some support, upside will be limited by higher interest rates. They see a somewhat similar dynamic playing out with bonds, where returns will be supported by ...
The Untold Story of Convertible Bonds
September 29, 2022 11:00 - 29 minutes - 54.8 MBThere is no relief in sight. The market remains volatile. Both equity and fixed-income assets are taking a beating as investors grapple with 40-year-high inflation and the Federal Reserve’s attempts to rein it in. My next guest says there is potential upside in this tumultuous market. He claims high volatility has historically had positive effect on a little-known class of bonds known as convertibles. He will explain why adding convertible bonds to your portfolio is a smart move as we weathe...
Joe Namath, Bernie Sanders and the Medicare Dilemma for Clients
September 19, 2022 11:00 - 32 minutes - 29.6 MBThe commercials are relentless. Cleverly nestled between episodes of Matlock and Golden Girls, each ad features boomer-friendly celebrities like Joe Namath, Mike Ditka and Jimmie “JJ” Walker breathlessly imploring viewers to find out if they’re missing out on “important new Medicare benefits.” And, to do so now “before it’s too late!” “Call the number on your screen now,” urges Broadway Joe in one Medicare Advantage plan spot. “It’s free!” And call they do. My guest is here to explain ...
Insights from Dimensional’s Advisor and Client Surveys
September 16, 2022 11:00 - 24 minutes - 22.7 MBTides are shifting in the world of financial advice, especially in advisor-client dynamic. During a record bull market, advisors were the investment experts that would deliver the retirement that their clients demanded. But if the last year in the market has shown us anything, it’s that advisors need to be more for their clients than simply portfolio managers. Dimensional’s Global Investor and Global Advisor studies bear that out. In fact, results from those studies reveal how top quartile...
The Next Frontier in Advisor Marketing and Client Service
September 15, 2022 11:00 - 35 minutes - 64.7 MBThe big trends in advisor marketing and client service are differentiation, specialization, and digitalization. In this podcast, Stephanie explains how they sit at the intersection in terms of what’s possible and how advisors operate today. - Here is a link to Stephanie’s firm, Limitless Advisor Coaching. If you'd like to learn more about Stephanie's strategies and Limitless Advisor Coaching, please visit https://limitlessfa.life. Stephanie will be hosting an introductory webinar on S...
The Global Outlook for Multi-Asset Management
September 14, 2022 11:00 - 24 minutes - 44.6 MBThe global economy and financial markets have suffered a dreadful first half of the year, ravaged by a severe commodity shock, strict COVID-19 lockdowns in the world’s second largest economy, and one of the most aggressive Fed tightening cycles in recent history. The second half looks equally tough. Given that backdrop, now is a critical time for multi-asset investors to revisit their investment approach. There is a sharp divergence in the investment opportunities across equities, fixed in...
How to Invest for the Coming Energy Regime Change
September 06, 2022 11:00 - 27 minutes - 25.6 MBThe world is undergoing a dramatic energy regime shift that has been accelerated by recent events, including the COVID crisis, the Ukraine war and growing concerns about climate change. Harbor Capital Advisors recently introduced the Harbor Energy Transition Strategy ETF – ticker symbol RENW – which is subadvised by Quantix Commodities, a specialist in the development and management of innovative commodity-based investment strategies. My guests today believe this will be one of the largest...
The Emerging Trends Among HNW Investors
September 02, 2022 11:00 - 25 minutes - 23.1 MBFor HNW clients, it’s not just about investments. It’s about what their money can do for them. Whether it’s leaving a legacy for their grandchildren, sailing around the world, or establishing a non-profit, these investors expect that you know what’s important to them, and you are both working toward that. AssetMark is a leading provider of wealth management and technology solutions that helps thousands of financial advisors meet the ever-changing needs of their HNW clients. Introducing AP ...
Why WisdomTree is Gaining Assets
August 24, 2022 11:00 - 26 minutes - 48.5 MBWhile market volatility is to thank for significant portfolio losses across the board, WisdomTree funds attracted almost $4 billion of inflows in the second quarter of 2022, the firm’s strongest quarter since 2015, and met a new milestone with 82% of its AUM exceeding benchmarks – something my guest, E-Trade veteran and WisdomTree president and COO, Jarrett Lilien, hasn’t seen any asset manager achieve over his 30+ year career. We will discuss what’s driving this growth at a time when so ...
How Joe Namath Transformed Medicare Planning
August 23, 2022 11:00 - 49 minutes - 91.2 MBWhen it comes to choosing Medicare Supplement plan options, new-to-Medicare beneficiaries are opting for lower cost plans. During the first six months of 2022, some 38% opted for Medigap Plan N. Just over half (51%) selected Plan G coverage. Nearly 6% enrolled in a High Deductible Plan G (HDG) plan. My guests today will discuss those and other trends in Medicare planning and how advisors can best help their clients with their healthcare needs. Give Premium a try with promo code PODCAST20...
Understanding Vanguard’s ESG Strategy
August 16, 2022 11:00 - 29 minutes - 26.9 MBOn July 18, Vanguard launched the Vanguard Baillie Gifford Global Positive Impact Stock Fund, which is the firm’s first impact fund and is designed for clients looking to invest in companies that have the potential to outperform the broad market as well as deliver positive change. Vanguard introduced the fund by adopting an existing impact fund managed by Baillie Gifford since 2017. The fund’s portfolio manager, Kate Fox, was previously a guest on Gaining Perspective. Vanguard now has six ...
The New Compliance Challenges Facing Advisors
August 15, 2022 11:00 - 23 minutes - 21.7 MBRestrictive compliance and new, rapid-fire regulatory rules pose a challenge for independent advisors who often do not have the bandwidth to respond in a timely manner. Corporate RIAs must differentiate themselves on how they can help advisors navigate this often-confusing reality. My guests today lead one of the fastest growing independent broker-dealer/RIA hybrid platforms, CoastalOne, with over 150 financial professionals nationwide. CEO and president, Charles Reiling, and chief complianc...
Why the FPA is Pursuing Title Recognition for Financial Planners
August 04, 2022 11:00 - 22 minutes - 20.8 MBIf you want to call yourself a lawyer, doctor or accountant, you must adhere to strict regulatory requirements. Even electricians and plumbers must be properly licensed. But that is not and has not been true of financial planners. Anyone can call themselves a financial planner. That is about to change. On July 21, the Financial Planning Association® (FPA®), the leading membership organization and trade association for Certified Financial Planner™ professionals and those engaged in the fi...
A New Platform to Access Real Estate Alternative Investments
July 26, 2022 11:00 - 28 minutes - 25.7 MBA couple of weeks ago, DWS Group, a global asset manager and one of the world’s largest real estate investment managers, announced it was making a strategic investment in its Americas Alternatives distribution platform to make its real estate products more widely available to the retail market. The investment is part of a longer-term initiative to provide retail investors with access to DWS’s broad alternatives platform. My guests today are the two individuals charged with leading DWS’ exp...
The New CFP Book on the Psychology of Financial Planning
July 20, 2022 11:00 - 37 minutes - 34.8 MBThe CFP Board published a book called the Psychology of Financial Planning. This groundbreaking new material incorporates interpersonal components of financial planning and the effects of money on individuals. My guests today are here to talk about that book.
The Toughest Questions Advisors Will Get From Clients
July 14, 2022 10:00 - 20 minutes - 18.5 MBMarket volatility, inflation, and talk of a recession certainly has grabbed the headlines over the past few months. As financial planners, this is your chance to differentiate yourself as you walk your clients through turbulent times. My guests today form the leadership team for one of the country's most prominent planning firms, Integrated Financial Group (IFG), IFG consists of 60 teams of financial planners in 13 states. Founder and chief strategy officer, Don Patrick, and current CEO, Lan...
What HNW Investors are Saying About ESG
June 30, 2022 11:00 - 30 minutes - 27.8 MBIn April of this year, the FlexShares team at Northern Trust conducted a survey of more than 500 high-net worth investors who work with financial advisors. The survey asked investors a range of questions about ESG investing including, but not limited to: how much they understand it, why they are or aren’t interested, whether their advisors are recommending it, and how and where they’re learning about ESG investing. My guest today will explain how she and her team used the data to identify tr...
The Summer of Bear Markets
June 16, 2022 11:00 - 25 minutes - 23.6 MBThe S&P 500 officially fell into bear market territory during the month of May, although a late month bounce allowed it to finish the month only slightly down from April. It is down about 2.5% thus far in June. The tone of the market has changed, and it doesn’t appear to be calming down anytime soon. According to my guest today, Greg Taylor, when looking at the performance of the large-cap tech stocks, it was inevitable that the broader market would touch bear market levels. He is here to di...
The Key Drivers of Advisor Recruitment
June 15, 2022 11:00 - 34 minutes - 47.5 MBThe most consequential decision an advisor will face is transitioning to a new broker dealer. It will affect the products they can sell, the service their clients will receive, the support they will have in running their practice, and ultimately how they will be compensated. My guest today will discuss how those transitions are being navigated by advisors who are seeking better outcomes for their clients.
Engine No. 1 and Its Compelling Approach to ESG Investing
June 14, 2022 11:00 - 29 minutes - 27.2 MBAs proxy season comes to a close, investors and advisors have grappled with company stewardship on a wide variety of issues. But what’s the best way to get a company to listen? Is divestment the way to go? Or must you engage with a company? And how do investors in ETFs and mutual funds make sure their voices are heard at the asset managers they invest with? Engine No. 1 focuses on engaging with companies constructively to make sure they are taking the costs they impose on society and other s...
Trends in Charitable Giving Among Wealthy Families
June 13, 2022 11:00 - 18 minutes - 34.3 MBBNY Mellon Wealth Management released its inaugural Charitable Giving Study a couple of weeks ago. It was a survey of 200 people with at least $5 million in AUM. It painted a vivid picture of high-net-worth investors’ behaviors, attitudes and experiences towards charitable giving. Some of the key findings included that only 56% had a charitable giving strategy, and that the top motivators for giving were personal satisfaction and connections. Here to discuss the findings of that study is Cry...
Longevity and the New Journey of Retirement
June 10, 2022 11:00 - 25 minutes - 35.6 MBEdward Jones and Age Wave’s latest study, “Longevity and the New Journey of Retirement,” explores how the journey of retirement unfolds, the patterns of people’s experience in retirement, and the keys to thriving along the way. Among the findings, nearly 70% of Americans reported wanting to live to be 100 years old. The study also shows how the definition of retirement has vastly changed from that of previous generations. While pre-retirees and retirees viewed their parents’ version of retire...
The Overarching Themes in the Asset Management Industry
June 07, 2022 11:00 - 24 minutes - 33.2 MBThe past few decades presented an outstanding market environment for the asset management industry. Global AUM rose at a steady pace between 2001 and 2021, thanks largely to the strength of the world’s equity markets, which were able to rebound even after several severe downturns. And 2021 was even stronger. Global AUM grew at 12% last year, to more than $112 trillion, a growth rate well above the 7% average of the previous 20 years. Last week, Boston Consulting Group (BCG) released its 20...
The Hidden Opportunity to Serve Millennial Clients
June 02, 2022 11:00 - 27 minutes - 37.3 MBWe’re here to talk about misconceived notions that advisors have about millennial investors. While it is often reported that millennials are rejecting financial advisors, my guest says this is not the case. The biggest issue that he sees is that financial advisors have minimums that make it difficult to serve millennials at the tail-end of the age bracket (those born between 1990-1996, or age 26 to 32). That cohort typically has not accumulated enough money to meet the minimum requirement nee...
The 9.62% Opportunity in I Bonds
May 16, 2022 11:00 - 44 minutes - 81 MBThe best retirement-savings vehicle is one that few have heard about: I bonds. They offer a risk-free yield of 9.62%, yet the amount of I bonds issued is only a small fraction of the total volume of bond issuance by the U.S. Treasury. My guest today will explain that paradox. This is also the 300th episode of the Gaining Perspective podcast, and no guest would be more appropriate than Zvi Bodie. He has eloquently and persuasively made the case for the financial services industry to provide p...
We are On the Brink of a Global Downturn
May 10, 2022 11:00 - 35 minutes - 65.7 MBSince 1992 the Belkin Report has been helping portfolio managers outperform their benchmark indices, and allowing hedge funds to harvest absolute gains. The BR combines a weekly x-ray of market sector performance with forecasts for each one. Its proprietary forecast model focuses on sectors, groups, and individual stocks, with a particularly strong emphasis on sector rotation. The report also features a macro view on global market developments, with a critical eye on central bank credit oper...
Which Sectors Will Outperform Under Inflation
April 28, 2022 11:00 - 18 minutes - 33.9 MBIn the span of just over two years, the world economy has been stricken by a pandemic and challenged by a military conflict in the heart of Europe. Major historical turning points are nearly always accompanied by fundamental shifts in the economy. The pace of history is accelerating with the global energy transition, urgency to secure reliable supplies of traditional energy, and locking in renewable alternatives. This shift will be driven by technology and innovation.
Using Private Credit Interval Funds During Inflationary Times
April 27, 2022 11:00 - 29 minutes - 53.9 MBSince the global financial crisis, assets in private credit have grown exponentially as investors search for yield while protecting against inflation and rising interest rates. Once a small corner of the investment universe, private credit has boomed into a major asset class that does not show signs of slowing. Over the 2010-2020 period, assets grew by 12.8% annually. However, not all private credit is created equal. My guests today will explain how the private credit landscape is quite diver...
A Top-Performing ETF for Rising Rates
April 22, 2022 11:00 - 26 minutes - 48.3 MBMortgage-backed securities (MBS) have taken a hit over the last several weeks with the news of the Fed’s plans to shrink its balance sheet. Today's guest, Dean Smith of FolioBeyond, will discuss why the combination of the rise in Treasury yields and the widening of MBS spreads is continuing to increase the valuations of certain types of mortgage-backed securities. With the expectation that the pace of rate hikes will soon be more aggressive, Dean will explain how the actively managed rising r...
What Fed Policy Means to the Markets
April 08, 2022 11:00 - 27 minutes - 50.8 MBAs expected, on March 16, the Fed signaled its intention to hike the Fed Funds rate by 25bps. My guest today, Matt Dines, the CIO of Build Asset Management, sees three big takeaways from its report. First, the Fed’s guidance on the path of the policy rate telegraphed its commitment to addressing the rising price levels afflicting the economy. Second, the FOMC’s guidance on the Fed Funds rate joined other key and important rate curves in the global financial system in inversion – i.e., the lev...
How to Fine Tune Your Digital Marketing
April 07, 2022 11:00 - 19 minutes - 35.2 MBLast year, Commonwealth Financial introduced the Brand Studio to help advisors establish a name, logo and website – all the fundamentals to get marketing off the ground. Brand Studio provides advisors with resources and services in a centralized portal and serves as the engine for strategic advisor marketing support. My guest today, Sarah Howes, oversees that effort.
Intergenerational Transfers for UHNW Clients
April 05, 2022 11:00 - 20 minutes - 38.2 MBFamily wealth transfers are complicated conversations. My guest, Jim Bertles of Tiedemann Advisors, has managed those conversations among his many UHNW clients and their millennial children. He has extensive experience overseeing and coordinating these transfers. Jim and I will discuss the dynamics of a successful family wealth transfer. I will ask Jim about the questions he is encountering with beneficiaries and what insights advisors should be sharing with them. Jim believes that advisors ...
The Latest Innovation in Retirement Planning
April 01, 2022 11:00 - 23 minutes - 42.8 MBRoughly half of adults over the age 55 say their biggest financial fear is not having enough money saved for retirement. Add in inflation, market volatility and low interest rates, and that’s enough for any investor to have serious cause for concern. Those at or near retirement don’t have time on their side. Enter Constance. Last October, RetireOne, an independent distribution platform for fee-based life insurance products, introduced Constance - a zero-commission, flat-fee annuity built to...
What to Look for in the SEC’s ESG Rulemaking
March 31, 2022 11:00 - 26 minutes - 47.8 MBESG regulations and standards are proliferating across the globe. Along with that has been a surge in ESG investor appetite and fund launches. That puts ESG at the center of dialogue among financial advisors. It is increasingly likely that US policymakers will move to integrate ESG into its regulatory landscape in the near future, as Europe has already done. My guest, Adrian Whelan, will discuss the key ESG themes, including how these are likely to influence US policymakers. It is Adrian’...
What Advisors Should Look for in Outsourced Solutions
March 29, 2022 11:00 - 28 minutes - 51.6 MBAmid the human tragedy brought on by the war in the Ukraine, there is a need to quickly and reliably expose assets aligned with Russia. But it’s hard to track the risks faced by big investors across diverse public and private assets that are multinational. Asset managers and regulators are turning to STP Investment Services, a Westchester, PA-based company and its BluePrint software platform that collects, processes, and presents constantly changing asset valuations for investments, from the ...
How Tactical Bond Management Delivers Value
March 28, 2022 11:00 - 16 minutes - 30.1 MBInvestors continue to need a balanced portfolio, including fixed income. But the bond markets are challenging: Rates are low, duration risk is high, and runaway inflation is putting pressure on long-term rates. “Buy and hold” fixed-income strategies will not work as well as they have in the past. A better alternative is a tactical, disciplined approach to when and how to invest in fixed income.